But credit card debt is up ... so banks are obviously lending more there. I agree with your general point. Bankers are now more common than crullers (why I thought of that I do not know). Perhaps we should eat them as we do with crullers ... that would get us down to a manageable number.

Yes, credit card debt is currently going up...and it is the creation of new debt that kept us going....but credit availability is being curtailed in every direction.....thus looking forward things look down.....for now.

I have excellent credit, and used to get those unsolicited offers in the mail for a new credit card. You know, "you're pre-approved" and all that. I would get several of them every week.

Some finance companies used to send me checks for several thousand dollars, totally unsolicited, made out in my name and ready to cash. Of course, cashing them would mean I was accepting the check as a loan at 22% interest!

Now, none! I haven't received any kind of offer in over a month.

And many of the finer restaurants here in Los Angeles are almost empty some nights. The malls are crowded with people trying to escape the heat, but I hear that few are buying anything. The movie theaters are still bringing them in, however. Crowded as ever. Go figure!